AUSTIN CALDWELL
26/12/2024
–
10:12
CSTThe Internal Revenue Service (IRS) plans to issue automatic payments of up to $1,400 in late December to about one million eligible taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns.The IRS announced this special measure after reviewing internal data showing that many eligible taxpayers filed a return but did not claim the credit. The Recovery Rebate Credit is a refundable credit for people who did not receive one or more Economic Impact Payments (EIP), also known as stimulus payments.Stimulus check: Who is eligible to receive a payment of $600 in February?The IRS clarified that almost all eligible taxpayers have already received the federal stimulus payments, but there are those who still do not have it and it was detected that they filed a 2021 tax return but left blank the data field for the Recovery Rebate Credit or completed it as $0 when in fact they were eligible for the credit.The good news for taxpayers eligible for this refund is that they do not have to take any action, as the payments will be automatically generated for direct deposit into the bank account listed on the taxpayer’s 2023 return and will be made in late December. In cases where a check needs to be mailed, the document will arrive in late January 2025 at the address the IRS has on file.These December payments for the 2021 Recovery Rebate Credit will only go to taxpayers whose IRS data shows that a taxpayer qualifies for the credit.In addition, the IRS will notify each eligible taxpayer by sending letters, and the eligibility criteria and how to calculate the maximum amount of $1,400 is published online.
Dom. Dic 29th, 2024
